Pre-stressed Concrete Strands and Wires Market: Introduction
The artificial compression stress applied to neutralize tensile stress deployed by exterior forces is termed as pre-stress and the structures constructed with pre-stress is known as pre-stressed concrete. The wire or strand used on pre-stressed concrete structure is known as pre-stressed wire or strand. When force is applied to this concrete, pre-stressing is introduced to counter the stresses resulting from the applied load. Pre-stressed wires and strands are used as a medium to attain a force that can neutralize external forces such as stress or compression. Pre-stressed concrete forms an integral part of bridges and commercial and residential building constructions. Wire for pre-stressed concrete is made from steels strongly alloyed with carbon.
Global Pre-stressed Concrete Strands and Wires Market: Key Trends and Developments
Increasing infrastructure activities in developing nations such as India, Vietnam, Chile, and Saudi Arabia is a key factor driving the global pre-stressed concrete strands & wires market. Moreover, an increase in the number of bridge construction and building construction are projected to boost the global pre-stressed concrete strands & wires market during the forecast period. According to National Precast Concrete Association, the construction industry is growing with high rapid pace. However, reducing oil and gas prices is likely to reduce transportation costs on behalf of the construction industry, which will over again makes relatively inexpensive to accomplish various operational activities. The forthcoming years is thus estimated to record a significant increase in the number of construction activities in the world, resulting in consequent growth of the global market. Furthermore, fabrication and assembling & installation of pre-stressed concrete strands & wires require of skilled worker. This is anticipated to hinder the global market.
Global Pre-stressed Concrete Strands and Wires Market: Segmentation
The global pre-stressed concrete strands and wires market can be segmented based on surface coating, application, and region. In terms of surface coating, the market can be segregated into uncoated, galvanized, and epoxy. The galvanized coatings segment accounted for a major share of the market in 2018 due to its superior properties such as high resistance to rust and carbonation. This coatings provides better stability to tall buildings.
Based on application, the global pre-stressed concrete strands and wires market can be divided into bridges, buildings, and others. The others segment encompasses stadiums, tunnels, roadwork, and railway sleepers. Key application of the pre-stressed concrete stands & wires is in the construction of bridges and buildings. Growth in the real estate sector in developing economies is likely to be fuel the segment. Furthermore, increasing urbanization in developing economies is expected to drive the demand for building.
Global Pre-stressed Concrete Strands and Wires Market: Regional Outlook
In terms of region, the global pre-stressed concrete strands and wires market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a significant share of the pre-stressed concrete strands and wires market during the forecast period due to the rise in emergence of high end-use applications in countries such as China, Vietnam, Indonesia, Malaysia, South Korea, and India. Developing countries such as India, Malaysia, and South Africa are investing in various bridge projects to connect remote areas of the country to urban areas. This factor is projected to drive the global market during the forecast period. The pre-stressed concrete strands and wires market in North America is estimated to expand at a substantial pace during the forecast period. The construction industry in the region is a key consumer of pre-stressed concretes strands & wires owing to their inherent benefits and wide applications. The U.S. is anticipated to account for a major share of the market in North America during the forecast period. Increase in construction activities in countries such as Brazil and growth in the aviation industry are estimated to boost the pre-stressed concrete strands and wires market in Latin America.
Global Pre-stressed Concrete Strands and Wires Market: Key Players
Key players operating in the global pre-stressed concrete strands and wires market include ARCELORMITTAL S.A., Çelik Halat ve Tel Sanayii A.?., INSTEEL ENGINEERS, AL ITTEFAQ STEEL PRODUCTS CO., Bekaert, DWK Drahtwerk Köln GmbH, FAPRICELA, GUIZHOU WIRE ROPE CO., LTD., GULF STEEL STRANDS, Henan Hengxing Sciecnce & Technology Co., Ltd., and HUBEI FUXING SCIENCE AND TECHNOLOGY CO. LTD.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.